Registered Charity No: 1138434
.
WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB FINANCIAL STATEMENTS
31 AUGUST 2020
:
|CONTENTS|Page|
|---|---|
|TRUSTEES’ REPORT|1-2|
|TRUSTEES’ RESPONSIBILITIES STATEMENT|3|
|INDEPENDENT EXAMINER’S REPORT|4|
|STATEMENT OF FINANCIAL ACTIVITIES|5|
|BALANCE SHEET|6|
|NOTESTOTHEFINANCIALSTATEMENTS|7-11|
WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
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## REPORT OF THE TRUSTEES
The trustees present their report and the financial statements for the year ended 31 August 2020.
- 1 REFERENCE AND ADMINISTRATIVE INFORMATION
Charity number: 1138434 Address: Elstub Lane Cam Dursley Gloucestershire GL11 6JJ Bankers: NatWest Bank Plc 16 The Plain Thornbury BS35 2BF Independent Examiner: P Fussell FCA Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 OUX
## Trustees:
The Trustees who served during the year were:
|C|Baker|Chair and Trustee (resigned November 2019)|
|---|---|---|
|B|Keene|Chair (appointed November 2019)|
|S|Wellstead|Treasurer (resigned January 2020)|
|H|Harper|Vice Chair and Trustee|
|H|Rogers|Trustee|
|L|Britton|Trustee (resigned July 2020)|
|K|Savage|Secretary and Trustee|
|L|Bennett|Trustee|
|E|Irvine|Trustee(appointedNovember2019).|
- 2 STRUCTURE, GOVERNANCE AND MANAGEMENT
## Governing Document
The Trust is an unincorporated association and registered charity, governed by its Constitution dated 8 July 2010.
There have been no changes to the trust deed and rules of the charity in the year.
## Management of the Trust
The Trust is managed by the Board of Trustees which meets on a regular basis throughout the year.
The Board of Trustees shall consist when complete of no fewer than three but (unless otherwise determined by a resolution of the charity in general meeting) shall not be subject to any maximum.
A Trustee must be a member of the Trust or the nominated representative of an organisation that is a member of the Trust. The Trust in general meeting shall elect the Officers and the other Trustees. The Trustees may appoint any person who is willing to act as a Trustee. They may also appoint Trustees as Officers unless a person has already been elected or appointed to that office and has not vacated the office.
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## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
## REPORT OF THE TRUSTEES
## 2 STRUCTURE, GOVERNANCE AND MANAGEMENT continued
No Trustee may be paid or receive any other benefit for being a Trustee. A Trustee may pay out of, or be reimbursed from, the property of the Trust reasonable expenses properly incurred by him or her when acting on behalf of the Trust.
## Risk Management
The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate exposure to the major risks.
- 3 OBJECTS AND ACTIVITIES FOR THE PUBLIC BENEFIT
°
## Objectives
- A. The object of the group shall be to advance the education and provide for the recreation of children of school age by making facilities and services available to them during out of school hours.
- B. The object of the group shall be to advance the education for pre-school children by making facilities and services available to them in a cost-effective manner.
## Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
## 4
## ACHIEVEMENTS AND PERFORMANCE
The Trust continues to provide facilities and services to children outside of school hours. A wide range of activities is offered to help the development of the children socially, physically, creatively and intellectually.
- 5
## FINANCIAL REVIEW
During the year, the Trust raised unrestricted fund income of £199,445 (2019 - £206,434) and expended £204,299 (2019 - £205,054) in charitable activities, leaving net incoming/(outgoing) resources for the year of (£4,854) (2019 — £1,380).
## Reserves policy
The Trust holds cash and bank funds of £120,068 at the year end. These funds are held in order to meet the day to day expenditure of the Trust and also any unforeseen expenditure that may occur. Funds of £90,000 are held in the business bank accounts to cover any redundancy, holiday pay, sickness pay or property repair, maintenance costs and restructuring costs.
## For and on behalf of the trustees
B Keene — Chair
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°
;
## TRUSTEES’ RESPONSIBILITIES STATEMENT
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
- e select suitable accounting policies and then apply them consistently;
- e observe the methods and principles in the applicable Charities SORP;
- e make judgments and estimates that are reasonable and prudent;
- e state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
- e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
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;
## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
Independent Examiner’s Report to the Trustees of Woodfield Nest Pre-School and Out of School Club
| report on the accounts of the Trust for the year ended 31 August 2020 which are set out on pages 5 to 11.
## Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the Trust’s accounts carried out under s. 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under s. 145(5)(b) of the Act.
:
## Independent examiner’s statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- (1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
- (2) the accounts do not accord with those records; or
.
- (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P FUSSELL FCA HAZLEWOODS LLP
## Staverton, Cheltenham
Chartered Accountants and Registered Auditors
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;
## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
## STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 August 2020
|STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 August 2020||||
|---|---|---|---|
|||2020|2019|
||Note|Total|Total|
|INCOMEAND EXPENDITURE||Unrestricted|Unrestricted|
|||funds|funds|
|INCOMING RESOURCES:||||
|Donations and legacies|2|35,411|21,777|
|Charitable activities|3|163,919|184,526|
|Investments||115|131|
|TOTAL INCOMING RESOURCES||199,445|206,434|
|RESOURCES EXPENDED:||||
|Charitable activities|4|204,299|205,054|
|TOTAL RESOURCES EXPENDED||204,299|205,054|
|NET (OUTGOING)/INCOMING RESOURCES||||
|FORTHE YEAR||(4,854)|1,380|
|Accumulated fund carried forward at||||
|beginning ofyear||123,263|121,883|
|ACCUMULATED FUND CARRIED FORWARD||||
|ATENDOFYEAR||£118,409|£123,263|
All activities are continuing.
= 5s
:
## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
|BALANCE SHEET||||
|---|---|---|---|
|31 August 2020||||
||Note|2020|2019|
|FIXED ASSETS||||
|Tangible assets|5|6,452|7,798|
|CURRENTASSETS||||
|Debtors
Cash at bank and in hand|6|5,648
120,068|3,738
123,765|
|||125,716|127,503|
|LIABILITIES||||
|Creditors - amounts falling due||||
|within one year|7|(13,759)|(12,038)|
|NETCURRENTASSETS||111,957|115,465|
|NETASSETS||£118,409|£123,263|
|FUNDS OF THE CHARITY||||
|Unrestrictedfunds|10|£118,409|£123,263|
Approved by the’Board of Trustees and signed on their behalf by:
**----- Start of picture text -----**
B Keene — Chair
**----- End of picture text -----**
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## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2020
- 1 ACCOUNTING POLICIES
## Basis of preparation and assessment of going concern
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The presentational currency of the accounts is UK £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these accounts are rounded to the nearest £.
:
Woodfield Nest Pre-School and Out of School Club meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The trustees consider that there are no material uncertainties about the company’s ability to continue as a going concern.
## Reconciliation with previous Generally Accepted Accounting Practice
In preparing the financial statements, the Trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS102 the restatement of comparative items was required and have concluded that no restatements were required.
## Cash Flow
The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a cash flow statement because it is a small Charity.
## Incoming Resources
Donations, gifts and legacies represent amounts received during the year, together with any associated tax refund. Gifts in kind for use by the charity are recognised as incoming resources when receivable at a reasonable estimate of their value. Assets given for distribution are only recognised when distributed.
Grants receivable for specific purposes are credited to the statement of financial activities in the year to which they relate as soon as conditions for receipt have been met. Unspent balances are carried forward to subsequent years within restricted funds.
Grants for immediate financial support or received against costs previously incurred are recognised immediately in the Statement of Financial Activities. Voluntary income is shown gross before deduction of fund-raising expenditure.
## Resources Expended
All expenditure is accounted for under the accruals concept. The irrecoverable element of Value Added Tax is included within the item of expense to which it relates.
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## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2020
- 1 ACCOUNTING POLICIES (Continued)
## Funds
General unrestricted funds comprise accumulated surpluses and deficits on general activities. They are available for use at the discretion of the trustees in furtherance of the company’s objectives. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. There is a single restricted fund, which is restricted for use in the Criminal Justice sector.
## Going concern
The trustees have prepared forecasts that show that, on the basis of this continuing, it will be able to continue as a going concern for at least the next twelve months and they have therefore prepared the financial statements on the going concern basis.
## Tangible Fixed Assets
All assets costing more than £250 are capitalised.
Tangible fixed assets are stated at cost less depreciation, or at estimated value at date of donation less depreciation in respect of donated assets.
Depreciation is provided to write off the cost or valuation less estimated residual value of tangible assets over their estimated useful lives at the following rates:
## Computers and equipment
## 25% of written down value
- 2 DONATIONS AND LEGACIES
||2020|2019|
|---|---|---|
|Donations
Donated facilities (note 9)
Government grants|1,131
21,000
13,280|777
21,000
-|
||£35,411|£21,777|
## 3 CHARITABLE ACTIVITIES
|||2020|2019|
|---|---|---|---|
|Fees
Nurseryfunding||87,771
76,148|100,591
83,935|
||£|163,919|£184,526|
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WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
°
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2020
|||2020|2019|
|---|---|---|---|
|4|CHARITABLE ACTIVITIES|||
||Charitable activities|||
||Purchases|7,728|12,692|
||Staff costs (note 8)|145,359|143,066|
||Staff training|1,978|1,276|
||Staff pensions (note 8)|2,022|1,657|
||Donated facilities (note 9)|21,000|21,000|
||Rates|686|231|
||Light and heat|1,704|1,708|
||Insurance|963|655|
||Repairs and maintenance|7,010|9,338|
||Telephone|720|1,025|
||Computer running costs|1,540|898|
||Printing, postage and stationery|977|551|
||Subscriptions|1,148|1,169|
||Equipment leasing|1,650|2,262|
||Cleaning|3,461|2,337|
||Motor expenses|166|171|
||Advertising|659|274|
|||198,771|200,310|
||Governance costs|||
||Independent examiner’s fees|755|585|
||Accountancy|755|585|
||Bookkeeping expenses|1,953|1,386|
||Depreciation|2,065|2,188|
|||5,528|4,744|
|||£204,299|£205,054|
WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2020
## 5 TANGIBLE ASSETS
||||Computers|
|---|---|---|---|
||||&|
||||equipment|
||Cost|||
||At 1 September 2019||13,334|
||Additions||719|
||At 31 August 2020||14,053|
||Depreciation|||
||At 1 September 2019||5,536|
||Charge for year||2,065|
||At 31 August 2020||7,601|
||Net book value|||
||At 31 August 2020||£6,452|
||At 31 August 2019||£7,798|
||All tangible assets are used for charitable activities.|||
|6|DEBTORS|2020|2019|
||Debtors
Prepayments|5,648
-|2,797
941|
|||£5,648|£3,738|
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## WOODFIELD NEST PRE-SCHOOL AND OUT OF SCHOOL CLUB
## NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2020
|7|CREDITORS - due within one year|2020|2019|
|---|---|---|---|
||Creditors|2,008|835|
||Accruals|1,215|1,170|
||Payments in advance|1,622|5,234|
||Deferred income|8,914|4,799|
|||£13,759|£12,038|
|8|STAFF COSTS|||
|||2020|2019|
||Wages|138,582|135,629|
||Employer’s National Insurance|6,777|7,437|
||Employer’s pension contributions|2,022|1,657|
|||£147,381|£144,723|
The average number of employees during year is summarised as follows;
|||No.|No.|
|---|---|---|---|
|Charitable|activities|14|14|
No employee received emoluments in excess of £60,000.
No Trustee received reimbursements for expenses during the year.
## 9 DONATED FACILITIES
The Charity currently has the use of a building rent free which is owned by the Cotswold Beacon Academy Trust. The estimated market rent for the use of the property is £21,000 per annum, as estimated by the Trustees.
## 10
## FUNDS
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.
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